Market Wrap 2642
Yellow phosphorus edged up slightly in the week, mainstream deals at CNY28,246-28,296/t. Supply side, facilities maintenance in Guizhou and market tight spot supply offers support to pricing. Demand side, end-users only purchased on demand without bulk stocking, limiting price increase.
Phosphoric acid weakened slightly. Autumn fertilizer season ended and compound fertilizers operation rates declined. Weak demand weighed on shipments and dragged prices lower.
Phosphate rock stayed stable. Mines shipped normally with quota control supporting prices. Downstream yellow phosphorus and phosphoric acid plants bought only as needed, no restocking enthusiasm.
Sulfur kept falling with port inventory building up. Demand for phosphate compound fertilizer was slow down. Overseas spot quotes dropped and more importing shipments arrived, traders cut prices to clear stocks.
Urea edged higher with port inventory ring to 695.2kt. Domestic autumn fertilizer demand faded. However, market expected new Indian tender, export sentiment improved and lifted spot prices marginally.
Amsul dipped moderately with mild port inventory growth. Compound fertilizer manufacturers cut purchases, while coking-grade supply was ample. On the other hand, export orders growth was limited and traders competed for more sales.
MOP declined slightly with high port inventory. Cargoes kept arriving after global contract settlement. Domestic winter reserves has not started, buyers stayed on sidelines and bargained hardly.
Caustic soda moved down. Chlor-alkali units resumed production and lifted supply. Demand from alumina and textile sectors remained sluggish, factory stocks accumulated and shipment pressure dragged prices down.
Soda ash fluctuated at low levels. Natural alkali output kept rising and supply stayed loose. Glass mills maintained low raw material inventory and bought on demand, weak heavy soda demand and high stocks capped prices.
KOH trended slightly weaker. Raw materials liquid ammonia and KCl fluctuated mildly. Demand from pharmaceutical and daily chemical sectors was steady with few new orders. Deals were negotiated with softening prices.
Liquid ammonia surged sharply this week. Several synthetic ammonia units halted production for maintenance, tightening market supply. Compound fertilizer and nitric acid plants started winter restocking in advance, concentrated buying boosted prices.
